Accounting for Income Taxes – The New US Tax Cut Environment

Accounting for Income Taxes – The New US Tax Cut Environment
Tuesday, February 19, 2019
2:00 pm – 3:30 pm Eastern 


This critical and timely bank accounting webinar addresses important deferred tax asset and liability issues specifically covered in FASB Statement No. 109 (ASC 740.10) and the recently issued ASU 2018-03. It puts the focus on one-time entries such as large tax effects of repatriation dollars; and the accounting for holding gains or losses on available-for-sale securities included in other comprehensive income (OCI) and stranded in OCI when there is a tax rate change enacted – unless ASU 2018-03 is implemented.

This accounting webinar presentation is timely and should be welcomed by those faced with the need to understand accounting for income taxes. It is especially useful for those closing the books and preparing financial statements for their company’s year end. It will refresh attendees with the accounting for income tax rules and their importance going forward in future years based on the newly enacted 2018 Tax Reform Act implications.

Topics Covered:

  • The balance sheet approach when accounting for income taxes
  • The handling (from creation to ultimate disposition) of deferred tax assets and deferred tax liabilities
  • The need for a valuation account (a “contra” account) in certain circumstances to reduce deferred tax assets to net realizable value (NRV)
  • Implications for financial institutions and lenders from 2018 Tax Reform Act
  • Specific examples of both temporary and permanent differences

Learning Objectives Include:

  • The historical problems associated with accounting for income taxes.
  • How the balance sheet approach dramatically changed income tax accounting.
  • The fundamentals surrounding the accounting for income taxes.
  • Future activities and their impact on deferred tax assets and/or liabilities.
  • The different handling of temporary differences and permanent differences.
  • The creation of the balances in the deferred tax asset and deferred tax liability accounts
  • The need for a valuation account when it is more likely than not (MLTN) that the net deferred tax asset will not be realized in full.
  • Basic provisions of SFAS 109 (ASC 740-10)

Who Should Attend?  

Executive C-Suite, Finance Accounting


Paul Sanchez, Founder, PSA Professional Service Associates

Paul J. Sanchez, CPA, CBA, CFSA conducts a CPA practice in Port Washington, New York. He is also the owner of Professional Service Associates (PSA), a consulting and professional training and development business servicing corporate clients (auditors, controllers, etc.), CPA firms, professional associations and others. He was an assistant professor at Long Island University – C.W. Post Campus as well as an adjunct lecturer at City University of New York. Prior to starting PSA, he was the Vice President-Professional Development for the Audit Division of a regional bank and Director of Professional Practices and Vice President of a money-center bank, where he directed the professional practice development and training for internal auditors.

Attendance verification for CE credits provided upon request.

Webinar Sponsored by BankersHUB

If you are having issues with registering online, please contact CBAO's Education & Training Coordinator, Lianne Simeone, (614) 610-1877

Registration Options
Live Webinar: Register for the live event and get five days access to the On Demand Playback. You’ll have an opportunity to ask questions during the presentation and be free to review the content for the next 5 (business) days Registration also includes links to presenter materials, handouts, and pdfs.
Additional Hookups: Registering another banker from a different location

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